Renforth Resources Inc (CSE:RFR, OTCQB:RFHRF) said O3 Mining Inc (TSX-V:OIII, OTCQX:OIIIF) has fulfilled the conditions of the option agreement to attain 80% ownership of Denain-Pershing property.
O3 Mining has also purchased the remaining 20% interest in the property from Renforth.
As noted in the statement, total consideration received by Renforth from O3 pursuant to the fulfillment of the option agreement and the purchase of the residual interest in the property consists of C$125,000 and 21,603 common shares of O3 Mining.
READ: Renforth Resources discovers visible nickel, copper mineralization at its Surimeau project in Quebec
Nicole Brewster, President and CEO of Renforth offered the following comments in the press release:
“Renforth is pleased to have concluded the divestiture of the Denain-Pershing Property to O3. This allows our team to maintain our focus at our flagship Parbec gold asset, as well as our Surimeau District Project where we have recently completed our latest drill program on our battery metals property without spending or dilution considerations at Denain-Pershing.”
Moving forward, Renforth will continue to focus on the Parbec open pit constrained gold deposit in Malartic Quebec, contiguous to the Canadian Malartic mine
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